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Abbey in shake-up for wrap

Abbey&#39s group marketing director is taking charge of its criticised wrap platform as part of a major structural reorganisation which will see the management team handed other responsibilities.

Janet Connor is taking on the role largely performed by marketing director of wealth management and banking Hugo Thorman. Head of wrap for intermediaries Steve Conley is set to be handed other group responsibilities.

Connor is expected to try and close long-running negotiations with several networks about potential partnership deals which could kickstart the platform after a lacklustre few months following its launch in September. It is unlikely that a deal with Sesame will be struck as the network&#39s board is understood to have turned down a deal eight months ago.

Further details of changes are expected at the end of the month, when Abbey completes its review of the platform, which has 162 registered users.


Commission comparison on menu

IFAs will have to compare how the commission they get adds up against the market average, according to long-awaited FSA proposals for the menu-based system of payment published last week. The menu was finally released last week after significant delays alongside a feedback statement to CP166 outlining the final depolarisation rules. The menu will oblige […]

House prices up by 3.1 per cent in February – Nationwide

Nationwide&#39s latest survey of the housing market shows that house prices increased by 3.1 per cent in February, up from a 0.7 per cent in January. Annual house price inflation was up to 17.1 per cent in February, up from 14.3 per cent in January, and the average house price was £138,730 up from £134,806.

IFAs will not compromise independence over GPPs

IFAs signing up staff to group personal pensions will be all-owed to describe themselves as independent even though a group personal pension provider has already been selected. The menu proposals say a firm enrolling employees into a GPP will not compromise its independent status if the scope of advice is restricted to advising on joining […]

Capital gains tax

The following are the key tax planning opportunities available in the area of capital gains tax. The annual capital gains tax exemption for individuals is £7,900 for 2003/04 and £3,950 for most trustees. The exemption is available to both a husband and wife, so between them capital gains of up to £15,800 in this tax […]


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